Wright Investors Service Inc. Acquires New Position in Starbucks Co. (NASDAQ:SBUX)
Wright Investors Service Inc. acquired a new stake in shares of Starbucks Co. (NASDAQ:SBUX) in the second quarter, HoldingsChannel reports. The institutional investor acquired 16,517 shares of the coffee company’s stock, valued at approximately $1,385,000.
Several other large investors also recently made changes to their positions in SBUX. Robeco Institutional Asset Management B.V. grew its stake in shares of Starbucks by 162.1% during the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 3,327,726 shares of the coffee company’s stock valued at $278,964,000 after acquiring an additional 2,058,082 shares during the period. FMR LLC grew its stake in shares of Starbucks by 19.8% during the 1st quarter. FMR LLC now owns 10,424,208 shares of the coffee company’s stock valued at $774,936,000 after acquiring an additional 1,720,231 shares during the period. Assenagon Asset Management S.A. grew its stake in shares of Starbucks by 432.2% during the 1st quarter. Assenagon Asset Management S.A. now owns 901,772 shares of the coffee company’s stock valued at $67,038,000 after acquiring an additional 1,173,260 shares during the period. Teacher Retirement System of Texas grew its stake in shares of Starbucks by 176.4% during the 1st quarter. Teacher Retirement System of Texas now owns 1,350,796 shares of the coffee company’s stock valued at $100,418,000 after acquiring an additional 862,102 shares during the period. Finally, SG Americas Securities LLC grew its stake in shares of Starbucks by 127.0% during the 1st quarter. SG Americas Securities LLC now owns 182,970 shares of the coffee company’s stock valued at $13,602,000 after acquiring an additional 861,478 shares during the period. Institutional investors own 72.54% of the company’s stock.
In related news, insider Kevin R. Johnson sold 23,390 shares of the stock in a transaction on Monday, July 29th. The stock was sold at an average price of $98.32, for a total transaction of $2,299,704.80. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Jill Walker sold 6,492 shares of the stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $95.70, for a total value of $621,284.40. The disclosure for this sale can be found here. Insiders have sold a total of 69,801 shares of company stock worth $6,301,684 over the last ninety days. Insiders own 3.98% of the company’s stock.
Shares of SBUX traded up $0.46 during mid-day trading on Thursday, hitting $95.38. 2,717,342 shares of the stock were exchanged, compared to its average volume of 7,953,828. The stock has a market cap of $113.61 billion, a P/E ratio of 39.41, a PEG ratio of 2.62 and a beta of 0.55. Starbucks Co. has a 52-week low of $52.30 and a 52-week high of $99.72. The stock has a 50-day simple moving average of $91.38.
Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data on Thursday, July 25th. The coffee company reported $0.78 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.72 by $0.06. The business had revenue of $6.82 billion for the quarter, compared to analysts’ expectations of $6.67 billion. Starbucks had a negative return on equity of 125.91% and a net margin of 13.63%. The company’s revenue for the quarter was up 8.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.62 EPS. Equities analysts anticipate that Starbucks Co. will post 2.82 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 23rd. Stockholders of record on Thursday, August 8th will be issued a dividend of $0.36 per share. The ex-dividend date of this dividend is Wednesday, August 7th. This represents a $1.44 annualized dividend and a dividend yield of 1.51%. Starbucks’s dividend payout ratio (DPR) is 59.50%.
Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of specialty coffee worldwide. The company operates in four segments: Americas; China/Asia Pacific; Europe, Middle East, and Africa; and Channel Development. Its stores offer coffee and tea beverages, roasted whole bean and ground coffees, single-serve and ready-to-drink beverages, iced tea, and food and snacks; and various food products, such as pastries, breakfast sandwiches, and lunch items.
Recommended Story: Why do companies issue convertible shares?
Want to see what other hedge funds are holding SBUX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Starbucks Co. (NASDAQ:SBUX).
Receive News & Ratings for Starbucks Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Starbucks and related companies with MarketBeat.com's FREE daily email newsletter.